Outside of those CAT-prone areas, rate growth has been more moderate, Alera Group reports. Average increases were in the 5%-15% range, but in some cases reached as high as 25%. (Credit: nespix/Adobe Stock) Outside of those CAT-prone areas, rate growth has been more moderate, Alera Group reports. Average increases were in the 5%-15% range, but in some cases reached as high as 25%. (Credit: nespix/Adobe Stock)

Commercial property rates for high-risk accounts have seen insurance rates increase 25%-150%, according to analysis from Alera Group, which noted some experts are projecting current market conditions to persist through mid-year renewals, while S&P Global Ratings suggested the hard market will continue throughout 2023.

Want to continue reading?
Become a Free PropertyCasualty360 Digital Reader

  • All PropertyCasualty360.com news coverage, best practices, and in-depth analysis.
  • Educational webcasts, resources from industry leaders, and informative newsletters.
  • Other award-winning websites including BenefitsPRO.com and ThinkAdvisor.com.
NOT FOR REPRINT

© 2024 ALM Global, LLC, All Rights Reserved. Request academic re-use from www.copyright.com. All other uses, submit a request to [email protected]. For more information visit Asset & Logo Licensing.

Steve Hallo

Steve Hallo is managing editor of PropertyCasualty360.com. He can be reached at [email protected]

Catastrophe & Restoration
Commercial Lines
Loss Control
Property & Casualty